Asian equities are up sharply, thanks to the eve of oil price crashes. According to data from the International Energy Agency for 2020, China, India, Japan and South Korea are all oil-importing countries.
The crash of oil led the Tokyo stock exchange to fly by about 4%, + 3.94% at 25,690.40.
Protagonist in Hong Kong the IPO of the Chinese electric car manufacturer NIO, which rose by 2.6% on the first day of trading. The stock is already listed on Wall Street.
The Hong Kong stock exchange rose by 0.68%, Shanghai + 1.46%, Sydney + 1.10%, Seoul + 1.73%.
US futures, however, are lower after rally on the eve, which saw the Dow Jones soar 653.61 points, or 2%, the S&P 500 gain 2.6% in what was the best session. from June 2020 and the Nasdaq Composite jumped 3.6%, in the best session since November 2020.
At the moment, US futures show a decline of between -0.20% and -0.29%, pending the publication of the US consumer price index, a thermometer of US inflation, which will be announced to 14.30 Italian time.
Today is ECB-Day: considering the distortion of the outlook on the global economy caused by the consequences of the war between Russia and Ukraine and the sanctions imposed in Moscow, the narrative has changed: if in the last meeting Christine Lagarde had not excluding a rate hike in 2022, now the president of the ECB will have to pay attention to every word, in a context in which the risk of stagflation increases, which among other things sees Europe among the countries most at risk.
Oil prices rise after collapsing on the eve of -13%.
The WTI contract plunged more than 12%, or $ 15, returning the worst session since November 26, 2021, and closing at $ 108.7 a barrel. Brent plunged 13%, or $ 16.8, to $ 111.1, suffering the strongest decline since April 2020, following Monday’s session-tested 2008 record of over $ 139 a barrel.